Asset manager wins gagging order against Reuters

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Brevan Howard Asset Management has won a gagging order against news agency Reuters, which sought to publish sensitive commercial information distributed to a small group of investors.

A High Court judge granted an interim injunction to the company, the Press Gazette reports.

Justice Popplewell stated Reuters had received “sensitive commercial information” that had the potential to be valuable to Brevan Howard’s competitors and damaging to its business if it was disseminated more widely.

Reuters’ information was based on documents sent to a group of 36 potential investors. It contacted Brevan Howard to verify the information, but was told the information was confidential.

Brevan Howard, which focuses on alternatives for institutional investors, took the case to court on 10 March.

Justice Popplewell stated that it was not enough for Reuters to argue that publication of the information was in the public interest, as there also had to be a public interest in breaching the confidence attached to it.